The 49th annual Super Bowl on Sunday evening has had America in a media frenzy all week long. The anticipation and festivities surrounding the two undisputed top teams in the National Football League would seemingly be a boon to the precious U.S. economy, and it is; but who exactly is profiting, and who is paying?
According to MarketWatch, the American taxpayer is again footing the bill for 2015’s big game, as they have been for decades. $308 million of the $455 million needed to pay for the construction of University of Phoenix Stadium in Glendale, Ariz., was financed with public money.
The mayor of the Super Bowl host city recently complained about this unavoidable situation:
“I totally believe we will lose money (on the Super Bowl this year),” he said.
The last time Glendale hosted the Super Bowl in 2008, the mayor estimates that his town lost $1 million overall.
This isn’t just a Super Bowl phenomenon either: 30 of the 32 NFL teams have taken taxpayer money to build their stadiums. The city of Seattle, for example, owes $300 of the $460 million it took to build the home of the Seahawks.
The state of Massachusetts, on the other hand, got off easy in only having to pitch in $72 million to erect Gillette Stadium for the Patriots.
[MarketWatch] [Photo courtesy Donald Miralle/Getty Images]